Examlex
A company recorded 2 days of accrued salaries of $1,400 for its employees on January 31.On February 9,it paid its employees $7,000 for these accrued salaries and for other salaries earned through February 9.The January 31 and February 9 journal entries are:
Controllable
Controllable usually refers to expenses or costs that can be managed or influenced by decisions made by a company or an individual.
Volume
Refers to the amount of an asset or security that changes hands over a set period of time, commonly used in financial markets to gauge trading activity and liquidity.
Material Variances
The difference between the actual cost of materials used in production and the standard cost of materials that should have been used.
Quantity Variance
The difference between the expected and actual quantity of materials or labor used in a production process.
Q4: The balances in the unadjusted columns of
Q41: Source documents include all of the following
Q75: Under the perpetual inventory system,the cost of
Q92: If Tim Jones,the owner of Jones Hardware
Q105: A company's post-closing trial balance has total
Q109: Credits always increase account balances.
Q154: Adjusting entries are normally entered in the
Q155: A company has net sales and cost
Q192: Adjusting entries are necessary so that asset,liability,revenue,and
Q202: A company recorded 2 days of accrued